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Sunday, April 30, 2017

Bitcoin Makes Cherry Blossom: Japanese City Starts Accepting Bitcoin Donations

Bitcoin Makes Cherry Blossom: Japanese City Starts Accepting Bitcoin Donations

Hirosaki, a city in Japan has started accepting Bitcoin donation in a first of its kind initiative by a public institution in the country. This is coming barely a few weeks after about 260,000 stores in parts of Japan started accepting the digital currency as a payment method.

Known for its Aomori Prefecture park which has 2,600 cherry trees and 400-year-old castle, the Hirosaki city starts accepting the Bitcoin donation to raise funds for the preservation of the 50 kinds of cherry trees and repair stone walls of the castle for future generations.

According to the national Japanese TV NHK which featured the news on Thursday, April 20, the park attracts two mln people during blossom season each year. Thus it is necessary to care of the trees which run into hundreds of thousands of dollars a year.

The broadcaster cites that city officials chose to collect donations in Bitcoin to encourage donations from overseas because the currency is popular outside Japan and remittance fees are low. It also quotes deputy mayor Noboru Yamamoto as saying that Bitcoin may provide a solution to other Japanese local authorities at a time when most are struggling to raise funds.

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